Welcome to our dedicated page for Freshpet news (Ticker: FRPT), a resource for investors and traders seeking the latest updates and insights on Freshpet stock.
Freshpet, Inc. (NASDAQ: FRPT) is a leading American pet food company specializing in producing and marketing fresh, all-natural refrigerated dog and cat food. Headquartered in Secaucus, New Jersey, Freshpet sets itself apart by using premium ingredients to create nutritious meals, which are cooked in small batches at lower temperatures to preserve their natural goodness.
Founded in 2006, Freshpet's mission is straightforward: to bring the transformative power of fresh food to pets everywhere, in ways that benefit not just pets but also people and the planet. Their commitment to sustainability and social responsibility is evident in every aspect of their operation, from partnering with farmers who share their values to maintaining eco-friendly production facilities in Bethlehem, PA, and Ennis, TX.
The company has experienced rapid growth and is currently the fastest-growing pet food brand in the United States. Freshpet's products are available in over 16,000 stores, including grocery, mass, club, pet specialty, and natural food retailers. The distribution model prominently features company-owned refrigerators to ensure product freshness, with grocery stores driving most of the footprint growth.
Financially, Freshpet has also shown robust performance. As of June 30, 2023, the company reported cash and cash equivalents and short-term investments of $358.5 million, with a debt of $391.9 million net of fees. The company’s latest update reiterates its net sales and capital expenditure guidance for the full year 2023 while updating its Adjusted EBITDA guidance.
In a significant move to strengthen its governance, Freshpet recently appointed Timothy McLevish and Joseph E. Scalzo to its Board of Directors following a cooperation agreement with JANA Partners, one of its largest shareholders. Both new board members bring extensive experience in financial and operational leadership, promising to add substantial value as Freshpet continues to capitalize on its growth opportunities.
Freshpet's commitment to innovation and quality has earned it a significant market share, with 96% of its sales concentrated in the U.S. market, and the remaining 4% coming from Canada, the United Kingdom, and other European countries. Dog food accounts for 92% of their sales, while cat food and treats make up the rest.
For more updates and detailed financial performance, investors can visit Freshpet’s investor relations page or follow their social media channels.
Freshpet reported strong second quarter 2022 results, with net sales rising 34.4% to $146.0 million, primarily driven by pricing and distribution gains. However, the company faced a net loss of $20.6 million, worsening from a $7.5 million loss in the previous year. Adjusted EBITDA decreased to $3.9 million, reflecting inflated costs and operational challenges. The capital expenditure forecast was refined to $320 million, marking an $80 million reduction. Freshpet anticipates 2022 net sales exceeding $575 million and adjusted EBITDA surpassing $48 million.
Freshpet, Inc. (NASDAQ: FRPT) will report its second-quarter results on August 8, 2022, after market close. A conference call with the executive management team is scheduled for the same day at 4:30 p.m. ET to discuss these results. North American listeners can dial (877) 407-0792 for the live call. The call will also be available via live webcast on the Company’s website and archived for later access. Freshpet focuses on providing fresh, real food for dogs and cats, utilizing local ingredients, and maintaining a commitment to quality and transparency in its operations.
Freshpet, Inc. (NASDAQ:FRPT) announced its participation in William Blair's 42nd Annual Growth Stock Conference on June 9, 2022, at 9:00 a.m. ET, in Chicago, IL. The event will be accessible online through the Company's website. Freshpet is dedicated to enhancing pet nutrition with fresh, real food made from local ingredients. Their products are sold in various retailers across the U.S., Canada, and Europe, ensuring transparency and quality in their food preparation process.
Freshpet, Inc. (NASDAQ:FRPT) announced its participation in Cowen's 6th Annual Future of the Consumer Conference in New York, NY, scheduled for May 25, 2022, at 12:45 p.m. ET. The presentation will be accessible via the Company's website in the 'Investors' section. Freshpet is dedicated to enhancing the lives of pets by providing fresh, natural food made from locally sourced ingredients, cooked in small batches. Their products are refrigerated from production to market, ensuring quality and freshness. For more information, visit www.freshpet.com.
Freshpet, Inc. (NASDAQ: FRPT) announced a public offering of 4,320,988 shares at $81.00 each, targeting proceeds for operational enhancements. The offering, managed by BofA Securities, Jefferies, and Truist Securities, includes a 30-day option for underwriters to buy an additional 648,148 shares. This transaction is set to close on May 6, 2022.
Freshpet's mission focuses on providing fresh, real food for pets, and products are available across major retail channels in North America and Europe.
Freshpet Announces New Innovation Kitchen
Freshpet, Inc. (Nasdaq: FRPT) is set to build a 99,000 square foot Innovation Kitchen in Hanover Township, aiming for completion in the second half of 2023. This new facility will enhance manufacturing capabilities and focus on innovative product development, reinforcing Freshpet's commitment to high-quality pet food. The project is in collaboration with J.G. Petrucci Company, ensuring a modern workspace that will contribute significantly to Freshpet's growth and industry leadership.
Freshpet, Inc. (NASDAQ: FRPT) announced a proposed follow-on offering of $350 million of its common stock. The company plans to provide underwriters with a 30-day option to acquire an additional $52.5 million in shares. This offering is subject to market conditions and aims to raise funds for strategic initiatives. BofA Securities, Jefferies, and Truist Securities are the book-running managers. The effective shelf registration statement was previously filed with the SEC, and details will be provided via a prospectus supplement expected on May 3, 2022.
Freshpet, Inc. (Nasdaq: FRPT) announced its Q1 2022 financial results, reporting a 41.5% year-over-year increase in net sales to $132.2 million. However, the company faced a net loss of $17.5 million, up from a loss of $10.9 million in the prior year. Adjusted EBITDA declined to $5.1 million (3.9% of net sales) compared to $7.8 million (8.3% of net sales) in Q1 2021. Freshpet unveiled an enhanced capacity expansion plan aimed at increasing sales capacity to $2.9 billion, while maintaining a full-year guidance of net sales exceeding $575 million, reflecting a 35% increase from 2021.
Freshpet, Inc. (NASDAQ: FRPT) will report its first-quarter results on May 2, 2022, after market close. A conference call with the executive team will follow at 4:30 p.m. ET on the same day, where they will discuss the financial results in detail. North American participants can join by calling (877) 407-0792, while international listeners can dial (201) 689-8263. Additionally, the call will be available via live broadcast on Freshpet's website and archived for future access. Freshpet focuses on fresh, natural pet foods made with quality ingredients.
Freshpet (FRPT) reported significant financial results for Q4 and full year 2021, with net sales of $115.9 million in Q4, up 37.1% year-over-year, and total sales of $425.5 million for the year, a 33.5% increase. Despite growth, the company recorded a net loss of $9.3 million for Q4, expanding from $3.3 million in the previous year, and a full-year loss of $29.7 million versus $3.2 million in 2020. Adjusted EBITDA for Q4 was $9.7 million, reflecting an 8.4% margin. For 2022, Freshpet projects net sales over $575 million, a ~35% increase, and adjusted EBITDA exceeding $55 million, about a 28% rise.
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